Oklahoma City ranks #1

This makes Oklahoma City an Excellent Market to purchase your Investment Property.

Americans are born with an entrepreneurial streak. It’s in our DNA. From the Gold Rush to the Industrial Revolution to the Internet Age, intense periods of innovation have molded our economy and sparked important societal advancements.

Today, more than 15 million people in the U.S., or about 10 percent of the labor force, work for themselves. And there is always room in the market for new ideas, products, services and multi-million-dollar success stories — if one knows where to look.

In order to help aspiring entrepreneurs — from restaurant owners to high-tech movers and shakers — maximize their chances for long-term prosperity, WalletHub compared the relative startup opportunities that exist in more than 180 U.S. cities. We did so using 19 key metrics, ranging from five-year business-survival rate to office-space affordability. Check out our findings, additional expert commentary and a detailed methodology below.

OKC Real Estate Market

Special thanks to Geoff Williams at Money.USNes.com
When Laurence DeGaris moved into his first house last August, at the age of 49, the University of Indianapolis marketing professor quickly found himself missing some of the pleasures of renting.

“The best thing in my old place was Lou,” DeGaris says. “Faucet leaking? Call Lou. Air-conditioning not working? Call Lou. Now that I’m a homeowner, I got no ‘Lou.’ You know anyone who does gutters in Indianapolis?”

Is it better to rent or buy a house? That’s a question virtually all adults ask themselves at one point or another, and especially around this time of year, as some people consider their goals and plans for the year ahead. So before you answer the question, here are some other questions you should ask yourself first.

Is it important that your house is an investment? If it’s very important, you might want to rethink your future living arrangements. “Americans were used to their homes being a store for wealth – something to liquidate in retirement and downsize,” says Scott Shellady, a senior vice president of derivatives for Trean Group, a futures and commodities exchange in Chicago. “No longer the case. Houses can go down just as easily as they go up.”

He adds: “The bull run in housing we saw in the ’90s and early 2000s will not happen again in our lifetime.”

Shellady also cautions prospective homeowners to think about the health of the city they want to live in before taking out a mortgage. “Bankrupt municipalities can’t put out fires. They can’t stop thieves. They can’t pick up trash and they can’t maintain roads,” Shellady says. “How much would your house be worth if your municipality was in that situation?”

This isn’t to say your house won’t be worth more someday versus when you bought it. But if you want a robust investment portfolio more than you want to buy a house, talk to a financial adviser instead of a real estate agent. Additionally, if you believe you’re going to be in a house less than five years and want to sell it at a profit, most experts suggest it’s safer to stick with renting.

Have you crunched all the numbers? Ron Throupe, an associate professor of real estate at the University of Denver, says the biggest mistake future homebuyers make is comparing a month’s rent to a month’s mortgage payment.

“Many people don’t have all the numbers,” he says. “There are many additional fees you need to include to make a fair comparison: the principal interest, property taxes, property insurance, homeowners association fees and maintenance.”

The maintenance, in particular, can’t be underestimated, he says. As DeGaris found out, if your furnace goes out or a pipe leaks, you have to fix it yourself or hire a professional. And there are other ancillary costs as well. “As a homeowner, you may find you suddenly need lawnmowers and snow shovels and new furniture,” Throupe says. “It all adds up.”

Can you handle the stress? “Most people weigh the financial aspects of buying versus renting, as they should, since it’s the biggest financial decision most people will make. But one big factor to consider when buying a home is stress,” says Tim Lucas, editor-in-chief of mymortgageinsider.com, an informational website.

Lucas says the Holmes and Rahe Stress Scale, a landmark stress study conducted in 1970, ranks many events that go along with buying a home in the top 43 most stressful circumstances in life. Four events are specifically home-related: change in financial state (No. 16), large mortgage or loan (No. 20), change in living conditions (No. 28) and change in residence (No. 32).

“If someone has recently made other life changes such as marriage, which is No. 7, switching careers (No. 18) or having a child (No. 14), it might be wise to postpone buying a home,” Lucas says. “Stress overload can lead to missed payments, which can result in destroyed credit or even losing the home. It’s better to rent if your life is in flux, and then buy when your stress levels are lower.”

Oklahoma City Documentary: Uncovering a Hidden Gem of American Cool

Seamus Payne of TheCoolist.com travels to Oklahoma City for an in-depth look at a city on the rise. “CITY RISING: OKC” explores the city’s unique storylines from startups to sport, culture to creativity.

Buying or Selling Income Properties, Call Karyn

Karyn Seabrooke, with Key Realty and Property Management, just Sold 2 Duplex’s, total four units, located in the “Harry Reeders Talk Of The Town” addition in Oklahoma City. Close to NW36th and Hefner Parkway.

The seller is local and is relocating to the Dallas/Ft Worth area and the Buyers are also local.

If you are thinking of buying or selling Income Properties in the OKC metro area, give Karyn a call.

Karyn has personally owned and managed some 2,000 units over the past 17 years in the Oklahoma City Real Estate Market. From new construction to managing “renovation projects” Karyn and her staff can handle all aspects of your purchase through to managing your income properties.

Whether you are new to the Real Estate Market or a Seasoned Landlord with an established portfolio here in Oklahoma City, let Karyn help you with your Real Estate Purchases.

Neutral colors make the best palette

Who knew? Ellen DeGeneres isn’t just an affable talk-show host and beloved comedian. She’s also an extremely prolific home designer and house flipper, as shown in her new book, “Home.” See more tips for Oklahoma City Real Estate for Sale.

“I wanted to be an interior designer when I was 13,” DeGeneres admits in her book—which explains why, over the past 25 years, she has bought and renovated nearly a dozen homes. Each home was an adventure and an education, she recalls. Below, from her book, are a few lessons she’s learned, as well as gorgeous photos of her interiors that illustrate her points.

Neutral colors make the best palette

“I like neutral colors with stronger colors in art, pillows, or a nice throw. Big color statements on walls or furniture can be fun, but limit the possibility of changes.”

Get a chalkboard in your kitchen

“Chalkboards make a great, fun statement in a home. You can draw on them or use them practically to make lists or write notes. You can write something like, ‘Remember to put away your shoes,’ just as a random, not-specific-to-my-life example.”

Less is more

“When finishing a room, I find it’s often useful to take one thing away. I always want to make sure it doesn’t look overdone or fussy.”

Go vintage

“Vintage fabrics can help personalize your home. They can be used for throw pillows, upholstery on a headboard—even a dog bed.”

Let there be light—lots of it

“Every room needs more than one light source. Lighting can be harsh or insufficient if you just rely on ceiling lighting. I like soft, even lighting, and I think floor and table lamps are essential to creating the right mood.”

Excerpted from the book “Home” by Ellen DeGeneres. Copyright (c) 2015 by Crazy Monkey, Inc.

Oklahoma City Real Estate Market

Courtesy of Fortune Builders Inc. source

Oklahoma City real estate investing has seen a lot of ups and downs in the years following the recession. However, thanks in part to the expansion of the economy, and in particular the oil industry, local housing is doing very well for itself. Things appear to be in a sustainable, upward trajectory for the time being.

With home prices averaging $152,900; the Oklahoma City real estate market is considerably behind the national average. In fact, Oklahoma City homes are about $55,000 less than the national average. The difference is largely the result of recent appreciation rates. While prices in the Oklahoma City real estate market continue to grow relative to last year, they are not on pace with the rest of the country. Over the course of a year, homes in Oklahoma City have appreciated at a rate of 2.5 percent, less than half the national average. It isn’t until you look back at least three years, however, that you discover the significant difference in home prices. Over the last three years, Oklahoma City homes have appreciated just 6.9 percent, whereas the national average was above 28 percent.

Oklahoma City Real Estate Market Statistics

While Oklahoma City homes have yet to keep pace with appreciation rates across the country, there is no denying the amount of equity that has returned to the area since the recession. The following highlights how much equity has been gained relative to the year of the home’s purchase:

Homes purchased in the Oklahoma City housing market one year ago have appreciated, on average, by $5,975. The national average was $14,170 over the same period.

Homes purchased in the Oklahoma City housing market three years ago have appreciated, on average, by $17,056. The national average was $53,857 over the same period.

Homes purchased in the Oklahoma City housing market five years ago have appreciated, on average, by $26,927. The national average was $48,036 over the same period.

Homes purchased in the Oklahoma City housing market seven years ago have appreciated, on average, by $30,465. The national average was $13,870 over the same period.

Homes purchased in the Oklahoma City housing market nine years ago have appreciated, on average, by $52,060. The national average actually decreased by as much as $2,822 over the same period.

Oklahoma City real estate investing owes a lot of its success to the local economy and job market. The recent oil boom has the region in a position to succeed in the immediate future. With that said, the job market should continue to support supply and demand within the housing sector. Recent data suggests that the unemployment rate in Oklahoma City is as low as 3.6 percent. That is two whole percentage points lower than the national average, and experts think it will only improve in the coming months. In fact, the only facet of the Oklahoma City job market more promising than the unemployment rate may be job growth. At 3 percent, 1-year job growth is well about the national average and expected to continuing in an upward direction. For all intents and purposes, the job sector is supporting the Oklahoma City real estate market.

As if a thriving job sector wasn’t enough, Oklahoma City has one additional indicator working in its favor: affordability. The monthly mortgage payment to income ratio is considerably less in the Oklahoma City housing market. Homeowners in the area can expect to use about 7.4 percent of their income on monthly mortgage payments, about half of the national average. The average homeowner in the United States allocates more than 15 percent of their income to mortgage payments.

With affordability higher than historical averages and a thriving job sector, Oklahoma City is expected to see an influx of younger buyers. The presence of Millennials alone may provide enough activity to help Oklahoma City lead in the recovery.

The Oklahoma City real estate investing industry should pay close attention to foreclosures in the area. In fact, RealtyTrac acknowledges approximately 670 properties that are in some stage of foreclosure. February actually saw foreclosure filings increase 69 percent from the beginning of the year. However, year-over-year, foreclosures are actually down 23 percent. Oklahoma City real estate investors should know that distressed properties are nearly half the price of non-distressed ones. The median sales price of a foreclosure home was $58,000, or $55,500 less than the average non-distressed property.

Most of the foreclosures in the Oklahoma City real estate market are of the auction variety. At 75 percent, the majority is going to be placed up for auction. Bank-owned foreclosures round out the rest, which are actually down about 30 percent from the previous year. Auction foreclosures, on the other hand, have only increased a modest 3.1 percent on the year.

There is certainly no lack of activity in the housing industry. There are about 1,487 homes for sale in the Oklahoma City housing market, compared to 5,797 that recently sold.

Oklahoma City real estate investors will want to consider the following neighborhoods, as Trulia has identified them as the most popular:

Quail Creek

Mesta Park

Central Park

Woodland Park

Downtown Oklahoma City

Of those neighborhoods that made the list, Quail Creek and Mesta Park received the most nods. However, outside of the most popular neighborhoods, Helm Farm deserves some consideration. In a one-week period, the average listing price in Helm Farm increased nearly 60 percent. This particular neighborhood may provide entrepreneurs with a prime Oklahoma City real estate investing opportunity.

The Oklahoma City real estate market has every right to be excited for the direction it is heading. While not quite on pace with the rest of the country, it has come a long way in the face of significant headwinds. Market indicators, including affordability and a booming job sector, should make it a great place to invest.

Oklahoma City Real Estate Market Summary:

Current Median Home Price: $152,900

1-Year Appreciation Rate: 2.5%

Unemployment Rate: 3.6%

1-Year Job Growth Rate: 3%

Population: 610,613

Median Household Income: $45,704

Oklahoma City Real Estate Market Q3 Update:

The Oklahoma City real estate market has come a long way since we last checked in on it, and Oklahoma City real estate investing couldn’t be in a better place because of it. The median home price for the area has increased, and is now sitting at approximately $156,300. While a far cry from the national average, it shows signs of strong improvement. What is even more impressive, however, is the city’s rate of appreciation. Homes in Oklahoma City have appreciated at a rate of seven percent in the last year. That is nearly a five percent increase from the beginning of this year.

Surprisingly, foreclosures have increased significantly, and are now at 1,551 units, according to RealtyTrac. Those interested in Oklahoma City real estate investing should take note, as these properties could come at an intriguing discount.

For the most part, the Oklahoma City real estate market has made strides to keep up with the recovery. While it has a long way to go till it is on pace with national averages, it is doing very well in its own right.

Oklahoma City County Map:

Courtesy of Fortune Builders Inc.

*The information contained herein was pulled from third party sites. Although this information was found from sources believed to be reliable, FortuneBuilders Inc. makes no representations, warranties, or guarantees, either express or implied, as to whether the information presented is accurate, reliable, or current. Any reliance on this information is at your own risk. All information presented should be independently verified. FortuneBuilders Inc. assumes no liability for any damages whatsoever, including any direct, indirect, punitive, exemplary, incidental, special, or consequential damages arising out of or in any way connected with your use of the information presented.

The buyers are from San Diego and they also hired Karyn and her Management Team to manage the portfolio for them.

If you are thinking of purchasing Income Properties in the OKC metro area, give Karyn a call.

Karyn has personally owned and managed some 2,000 units over the past 17 years in the Oklahoma City Real Estate Market. From new construction to managing “renovation projects” Karyn and her staff can handle all aspects of your purchase through to managing your income property.

Whether you are new to the Real Estate Circle or a Seasoned Buyer with an established portfolio here in Oklahoma City, let Karyn help you with your Real Estate Purchases.

Oklahoma City Investment Property Just Sold

Property consisted of 3 buildings, total 32 units. Selling price was $1,500,000 for the group.

The buyers are from San Diego and they also hired Karyn and her Management Team to manage the portfolio for them.

If you are thinking of purchasing Income Properties in the OKC metro area, give Karyn a call.

Karyn has personally owned and managed some 2,000 units over the past 17 years in the Oklahoma City Real Estate Market. From new construction to managing “renovation projects” Karyn and her staff can handle all aspects of your purchase through to managing your investment.

Whether you are new to the Real Estate Investment Circle or a Seasoned Investor with an established portfolio OKC Investment Property, let Karyn help you with your Real Estate Investments.

Oklahoma City Events this Weekend

We double-dog dare you to find a day of the year when there’s not something exciting happening in downtown OKC. Live music, art openings, festivals and fundraisers fill up our calendars every week and we’ve listed a few here. Come out and play! Courtesy of downtownokc.com

June 26th

“Terra” by Orly Genger

Made of 1.4 million feet of recycled lobster-fishing rope, and painted with 350 gallons of terra cotta colored paint, “Terra” will weave its way through the center section of Campbell Park, located at NW 11th and Broadway

Live Music at Red Piano Lounge

Bug Out! Lady Bud Release and Mitey Insect Safari

Help us release thousands of polka-dotted hungry helpers in our Conservatory so they can chow down on pests that are bugging our plants! Lady bugs will be available for release on a first come, first-served basis.

Live Music at Mickey Mantle’s Steakhouse

H&8th Night Market

H&8th Night Market is a monthly, family- and pet-friendly street festival built around a lineup of the city’s top gourmet food trucks and live music on the last Friday of each month from 7-11pm. There is no cost to attend.

Industry Flea

OKC Events this Weekend

June 27th

“Terra” by Orly Genger

Made of 1.4 million feet of recycled lobster-fishing rope, and painted with 350 gallons of terra cotta colored paint, “Terra” will weave its way through the center section of Campbell Park, located at NW 11th and Broadway

Industry Flea

Riversport Challenge

This race begins with a 500m flat-water kayak or, new for 2015, a stand up paddleboard race on the water, then moves to the Oklahoma River Trails for a 5k run. The challenge includes youth and adult racing. Kayaks and PFDs will be provided on race day.

PaddleFest Dragon Boat Festival

Groups of 10 or 20 can sign up to race local and regional teams in this unique event in Oklahoma City. Bring your group of friends, family, or coworkers together for some fun on the water! No experience necessary;

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Key Realty and Property Management LLC

Karyn Seabrooke

Key Realty and Property Management is a full service real estate company specializing in residential, commercial, investment real estate and offers professional property management. Karyn has been involved in property ownership, management, and real estate development in Oklahoma City since 1994. Meet Karyn Seabrooke